Former U.S. President Donald Trump announced on Wednesday evening that the United States has reached a new trade agreement with South Korea, which includes a 15% tariff on South Korean imports.

In a post on his social media platform, Truth Social, Trump stated that South Korea has agreed to invest $350 billion in the United States and to purchase $100 billion worth of American energy products.

He added that the agreement ensures South Korea will fully open its market to American goods, including automobiles, trucks, agricultural products, and other U.S. exports. Trump described the deal as a significant step toward strengthening economic ties between the two countries and ensuring fair trade practices.